SEOUL, KOREA - Since the government proposed a measure to stimulate the housing market in early April, the volume of home mortgages provided by commercial banks has increased by a large margin. The Financial Supervisory Service said on May 12 that the April balance of household loans by commercial banks has increased by 4.3 trillion won from March. It includes 3.3-trillion-won mortgage loans offered by the Korea Housing Finance Corp. and other financial institutions.
As for home mortgage loans, the size has risen for four consecutive months since January when the balance increased 600 billion won from the previous month, followed by 2.1 trillion won in February and 2.3 trillion won in March.
The balance of corporate loans for the same month has increased 5.1 trillion won largely due to seasonal factors such as value-added tax payments and the rollover of loans paid back at the end of the quarter. The balance of loans made out to small enterprises increased 1.7 trillion won in April, smaller than that in March when the increase was 3.0 trillion won.
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